a number of responsibilities that a professional or MARKET MAKER must undertake, including taking one side of a purchase or sale PURCHASE through a proprietary account when the other side may not be straight away matched, quoting twosided areas always, and reporting all performed positions within a predefined time period. Also known as POSITIVE OBLIGATION. See also INTERPOSITIONING, UNFAVORABLE OBLIGATION. AFTER HOURS TRADING TRADING in securities occurring following the formal close of an EXCHANGE, through telephonic networks or ELECTRONIC INTERACTION NETWORKS supported by BROKER/DEALERS. Used only BENCHMARK securities with a broad trader take trade after-hours.